Feb 12, 2010 11:30pm EST
quickly got interest rates to zero. >> when dow, based on what the chairman of the fed mr. bernanke said recently, when do you expect him to begin or the fed to begin feeling like in order to combat inflation they have to do something. >> you know. >> rose: about raising the cost of money. >> i think the fed has made it very clear they don't think that that time is any time soon if you read their statements. they are very careful to say it is certainly a ways off. i think what chairman bernanke was doing was talking about a plan. and how, when it's time will the fed be able to drain reserves so people have the confidence to know that if they get worried, they can, you know, take the reserves out of the system so you don't have inflation. i like to draw the analogy t is very much what the president is doing with his budget, at the same time that he is saying we need to do some more energy spending to create jobs, sort of those targeted measures, we need to put in place a plan for as we come back to full employment, how do we deal with the budget deficit. that is exactly what he is talking
Feb 18, 2010 11:30pm EST
to believe the date when ben bernanke moves it off zero is getting closer. c i don't see anything in that data. we don't look like greece. we don't look like spain either. people are up because we have had good news. >> take note. the front end is being held by the fed at zero. and the concerns are starting to mount. what you're starting to see is the stheppening but the growth is not as strong as people indicated originally. >> that's not how i read the data. long-range dates went up today, the date that we are taping because the philly -- there was optimism not pessimism. >> we have 1.7 trillion in the market. interest rates do not go up, which i think is a totally unrealistic assumption over time based on the sides deficits that we're talkingng about. >> and banked on what bernanke -- >> we can debate how quickly and fast but here is the key. even if they don't go up, the single largest line item in the federal budget within 12 years will be interest on the federal debt. larger than defense. larger than medicare. larger than social security. what do weit get for that? nothing.
Feb 3, 2010 11:00pm EST
do you regret? where did you look back and say "that was the wrong call, by me, geithner, bernanke"? >> charlie i've thought about this a lot and i'm going to give you a number of mistakes i think i was involved in making. but the in 20/20 hindsight, the major decisions we made, i'm totally convinced, were the right calls and they were made in the face of unprecedented challenges with really imperfect tools without the authorities we needed in the middle of a very challenging political period with an election coming. and the reason i they is they worked and they prevented the collapse. so most of what is cited as mistakes were really things we had no control over. for instance, i would like to have seen the a.i.g. problem coming earlier. but there was no regulator that had responsibility for the whole institution and we just didn't have a clear line of sight and we didn't... we didn't have the information. i do not want to have lehman fail. i knew that would be a bad thing and we worked very hard to prevent it. but we didn't have the authorities to prevent the failure of he plan. .
Feb 11, 2010 11:30pm EST
. >> do you think geithner in this administration and the previous administration, geithner and bernanke and larry summers have done a good job in hemming the financial sector as well as -- >> you know, 2020 hindsight is a specialty in this country and now we're having all kinds of hearings. but at the time this thing hit us in a significant way, those guys were working 18, 19 hours 0 day. they were making decisions with the information that they had available. they made mistakes. but the bottom line is, the system is still working. we are making progress. >> and we averted disaster. >> we averted two or three disasters. and i, therefore, applaud what they did, and if you notice, we support what they did. were there errors? sure. >> did i make judgments that weren't perfect? you bet. >> what does the chamber think about the boca rules. >> chairman volkert is a very smart man. and he raises a thoughtful argument. that press conference with the volkert rules and things the political guys threw in that was not naferred by geithner and sumners. but the volkert rules make since with one excep